Visit Doc Center
3502 S Mason Ave | Tacoma, WA 98409
Document Center
Opportunity
Contact
Privacy
Terms of Use
© 2022 Berkadia Proprietary Holding LLC
Berkadia® is a trademark of Berkadia Proprietary Holding LLC
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
Contact us.
George Pallis
george.pallis@berkadia.com
director
206.801.3070
Email
David Sorensen
Managing Director
david.sorensen@berkadia.com
206.801.3102
Email
Ben Johnson
Managing Director
ben.johnson@berkadia.com
206.801.3144
Email
Jay Timpani
jay.timpani@berkadia.com
managing director
206.801.3067
Email
INVESTMENT SALES
Michael Manolides
Associate director
michael.manolides@berkadia.com
253.670.2143
Email
MORTGAGE BANKING
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
425.230.2565
berkadia.com
northwest.berkadiarea.com
Bellevue Office
Rentable SF
72.4k
Year BUilt
1986
Units
88
Berkadia Seattle Investment Sales is pleased to announce it has been retained as the exclusive listing broker for Bella Vista, an 88-unit, garden-style community, located less than five miles southwest of Downtown Tacoma, Washington.
Bella Vista Apartments’ location presents investors with an especially attractive opportunity, as residents enjoy easy access to Interstate 5 and the South Tacoma Sounder Station. This convenient proximity allows for seamless commutes to some of the area’s largest employers: The Port of Tacoma, Boeing’s Frederickson and Kent Plant, Joint Base Lewis-McChord—the largest military installation on the West Coast—as well as major employers in the Greater Seattle metro, via the Sounder Train. Tacoma benefits greatly and will continue to do so well into the future from the vast workforce and ever-expanding economy in the Greater Seattle-Tacoma MSA, making Bella Vista a particularly savvy investment.
The asset’s optimal location and considerable upgrades offer multifamily investors a tremendous opportunity to complete current renovations and realize lucrative benefits from future rent growth and value appreciation.
Address
City, State, Zip
County
Parcel Number
Units
Construction Year
Buildings
Stories
Site Size/Acreage
Residential Rentable SF
Average Unit SF
Average Rent/Unit
Average Rent/SF
3502 S Mason Ave
Tacoma, WA 98409
Pierce
022013-2000
88
1986
Nine
One & Two
7.13
72,400
823
$1,641
$1.99
Opportunity
Visit Doc Center
EMAIL US
Built in 1986, the property consists of 9 one- and two-story, wood-frame constructed buildings featuring wood exteriors and pitched roofs. Situated on 7.13 acres of land, Bella Vista contains 72,400 square feet of rentable space across a unit mix of:
Unit Mix
One Bedroom
Two BEdroom
32 Units
56 Units
740 SF
870 SF
BELLA VISTA
Bella Vista offers investors a significant value-add opportunity to complete interior renovations, thereby generating per-unit premiums of $270+ above in-place rents. Completed upgrades include appliances, cabinets, flooring, lighting package, electrical and plumbing hardware, counter resurfacing, tub resurfacing, and paint throughout. A continuation of these renovations has the potential to drive net operating income to an impressive $431,230 above that of the trailing twelve months.
Value-Add Opportunity
Classic Unit
Classic Unit
Potential Renovation
Home
Meet the Team
View Listings
Privacy
Terms of Use
George Pallis
george.pallis@berkadia.com
director
206.801.3070
Email
Kenny Dudunakis
kenny.dudunakis@berkadia.com
senior managing director
206.521.7216
Email
Jay Timpani
jay.timpani@berkadia.com
managing director
206.801.3067
Email
Kenny Dudunakis
kenny.dudunakis@berkadia.com
senior managing director
206.521.7216
Email
Visit Doc Center
1234 Lorem Ipsum Avenue – Washington, DC 10001
Document Center
Investment
Contact
Privacy
Terms of Use
© 2022 Berkadia Proprietary Holding LLC
Berkadia® is a trademark of Berkadia Proprietary Holding LLC
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004